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shaunj1 · Joined: 01 Dec 2008 Posts: 2 1.86 Dollars($)

Two years ago my mother purchased a home for my husband and I, as we were in a Chapter 13. My mom had to do a non documented loan which resulted in two mortgages. My husband and I are now out of the bankruptcy and my mother is in the process of quit claiming the property to us. Will we be able to refinance the property?

bearboysj · Joined: 25 Oct 2008 Posts: 42 17.02 Dollars($)

It is really going to depend on the specific lender/investor your broker/loan officer chooses. Some lenders will allow this - most don't allow the payoff off of a mortgage not in the borrowers name, some lenders require the person who was recently quit claimed onto title have 12 months seasoning, some require 12 months payments by the individual on title .. .there are a number of possibilities. But, I would seek out a lender and see if they have any investors that fit your needs. This is of course based off the assumption that the person currently on the note is not going to be on the loan.

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